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  BDEW publishes Blockchain study | BTC-ECHO | Bit Updates
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BDEW publishes Blockchain study | BTC-ECHO

Monday, November 13th, 2017 | bitcoin updates

The Federal Association of Energy and Water Industries (BDEW) has published a study on Blockchain and its applications in the energy world. In addition to the great opportunities arising from the new technology, it also highlights the role of Germany as a location for the further development of blockchain applications. The Federal Association of Energy and Water Industries is an association of German companies and associations that deals with takes care of the interests of the German energy sector and the water supply and represents their interest on the political level. Already at the end of last month, the BDEW published a study describing the many opportunities that arise from the blockchain for the energy world. The purpose of this study is to provide an in-depth assessment of the potential of blockchain for utilities and to highlight examples of successful blockchain implementations. The key findings of the study are that blockchain can make data exchange in a distributed energy system significantly easier. This becomes relevant as the decentralization of the energy network is an important aspect of the energy transition. In addition, Blockchain opens up new opportunities for companies to optimize their energy trading, charging infrastructure or payment processes by ensuring the secure and transparent exchange of information. "The energy system is becoming increasingly decentralized, complex and networked. It is therefore right to explore all options that can facilitate data exchange between generating plants, grids and storage. Blockchain technology opens up a wide field for innovation and new business models. And right on our doorstep: Germany is one of the hotspots for blockchain applications in the energy industry. This is where the music plays – that is especially true for Berlin as a location. Anyone involved in the development of the technology at this early stage can secure new roles and segments, "says Stefan Kapferer, Chairman of the BDEW Management Board. However, the study also suggests that there will still be a long way to go a full implementation of Blockchain in the German energy industry will be able to speak. Until then, a clarification of various technical and legal framework conditions is needed. A more detailed analysis of the use of blockchain in the energy sector can be found here.BTC-ECHOAbout Tobias SchmidtTobias has been working as an editor in the BTC-ECHO team since August 2017. He completed his studies in Politics and Economics at the University of Münster with a bachelor's degree and also worked as a student assistant during his studies. In addition, he gained professional experience in parliamentary work and strategic communication before moving to the journalistic field. Since 2017 he has devoted himself to blockchain technology, focusing in particular on the many different applications in politics, business and society. All contributions by Tobias Schmidt


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